The Karnataka small commercial vehicle market is expected to witness a growth of steady CAGR in the forecast period, 2023-2027. The small commercial vehicle is a type of commercial vehicle which is used for intra and inter-city delivery of products. Small commercial vehicles have either three-wheel or four-wheel and are chosen based on load carrying requirements. The majority of the small commercial vehicles are equipped with the latest technology and equipment, which makes traveling over rough terrains smoother and easier. The high demand from the manufacturing and e-commerce industry and the launch of small electric commercial vehicles in the market are the primary factors that are driving the market demand. Also, the rapidly growing road infrastructure and the growing number of small-scale businesses are further expected to influence the market demand for the next five years.

Growing Industrial Sector Drives the High Market Demand

Karnataka is leading the growth of the Indian industry in terms of high technology industries in areas of Information & communication technology, biotechnology, nanotechnology, electrical and electronics industry, and other prominent industries. The structure of the industrial sector of Karnataka is a combination of modern high-tech capital and traditional good industries. Companies like 3M India limited, BEML Ltd, Bharat Electronics Ltd, and Bosch Ltd are setting up their plants in Karnataka and require the use of commercial vehicles to transfer their goods and products to maintain an efficient supply chain. Small commercial vehicles are preferred over other means of transportation as they are fuel-efficient, cost-effective, and produce less environmental pollution in comparison to heavy commercial vehicles. Karnataka is flourishing at a rapid rate and is witnessing strong economic growth. Ongoing commercial activities and the high demand from the industrial sector are expected to accelerate the Karnataka small commercial vehicles market growth over the next five years.

Flourishing E-Commerce Industry Supports the High Market Demand

The digital transformation of the retail industry owing to high-speed internet penetration and the proliferation of smart devices among consumers is expected to revolutionize the reach of the retail industry. Consumers are shifting towards online sale channels as they are highly convenient and comfortable in comparison to buying physically through retail stores. Market players are providing lucrative discounts and offers, quick doorstep delivery, and flexibility in payment options to attract customers to buy through online platforms. Rapid urbanization has created new retail and e-commerce platforms that require efficient logistics, which could be achieved by small commercial vehicles. The intense competition among the market players is making them invest in the development of efficient transportation and logistics to improve the customer experience. Therefore, the increased demand for goods through the e-commerce platforms and the rise in the number of market players are expected to accelerate the growth of the Karnataka small commercial vehicle market over the forecast period.


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Market Segmentation

The Karnataka small commercial vehicle market is segmented into vehicle tonnage, industry, propulsion, competitive landscape, and regional distribution. Based on vehicle tonnage, the market is divided into less than 1 ton, 1 - 2 ton, and 2 - 3 ton. Based on industry, the market is divided into e-commerce, FMCG, pharma, electronics, construction, agricultural, hospitality, forestry, oil & gas, and others. Based on propulsion, the market is divided into ICE and electric. The market is also studied by dividing Karnataka into cities namely Bengaluru, Mysore, Bijapur, Hubli-Dharwar, and Tumkur. .

Market Players

Lohia Auto Industries  , Tata Motors Limited, Ashok Leyland Limited, Atul Auto Limited, Piaggio Vehicles Pvt. Ltd. (PVPL), Mahindra & Mahindra Ltd, Bajaj Auto Ltd., TVS Motor Company, Isuzu Motors  Karnataka Private Limited, Saera Electric Auto Pvt. Ltd are the major market players leading the Karnataka small commercial vehicle market growth.

Attribute

Details

Base Year

2021

Historic Data

2017 – 2020

Estimated Year

2022

Forecast Period

2023 – 2027

Quantitative Units

Revenue in USD Million, Volume in Units, and CAGR for 2017-2021 and 2022-2027

Report coverage

Revenue forecast, volume forecast, company share, competitive landscape, growth factors, and trends

Segments covered

·         Vehicle Tonnage

·         Industry

·         Propulsion

Region scope

Bengaluru, Mysore, Bijapur, Hubli-Dharwar, Tumkur

Key companies profiled

Lohia Auto Industries , Tata Motors Limited, Ashok Leyland Limited, Atul Auto Limited, Piaggio Vehicles Pvt. Ltd. (PVPL), Mahindra & Mahindra Ltd, Bajaj Auto Ltd., TVS Motor Company, Isuzu Motors  Karnataka Private Limited, Saera Electric Auto Pvt. Ltd

Customization scope

10% free report customization with purchase. Addition or alteration to city & segment scope.

Pricing and purchase options

Avail customized purchase options to meet your exact research needs. Explore purchase options

Delivery Format

PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

Report Scope:

In this report, Karnataka small commercial vehicle market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

  • Karnataka Small Commercial Vehicle Market, By Vehicle Tonnage:
    • Less Than 1 ton
    • 1 - 2 Ton
    • 2 - 3 Ton
  • Karnataka Small Commercial Vehicle Market, By Industry:
    • E-commerce
    • FMCG
    • Pharma
    • Electronics
    • Construction
    • Agricultural
    • Hospitality
    • Forestry
    • Oil & Gas
    • Others
  • Karnataka Small Commercial Vehicle Market, By Propulsion:
    • ICE
    • Electric
  • Karnataka Small Commercial Vehicle Market, By City:

o   Bengaluru

o   Mysore

o   Bijapur

o   Hubli-Dharwar

o   Tumkur

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in Karnataka small commercial vehicle market.

Available Customizations:

With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players (up to five).
Karnataka small commercial vehicle market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected] 

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1.     Product Overview

2.     Research Methodology

3.     Executive Summary

4.     Impact of COVID-19 on Karnataka Small Commercial Vehicle Market

5.     Voice of Customers

5.1.   Factors Influencing Purchase Decision

5.2.   Brand Recall

5.3.   Brand Satisfaction Level

6.      Karnataka Small Commercial Vehicle Market Outlook

6.1.   Market Size & Forecast

6.1.1. By Value & Volume

6.2.   Market Share & Forecast

6.2.1. By Vehicle Tonnage (Less Than 1 ton, 1 - 2 Ton, and 2 - 3 Ton)

6.2.2. By Industry (E-commerce, FMCG, Pharma, Electronics, Construction, Agricultural, Hospitality, Forestry, Oil & Gas, and Others)

6.2.3. By Propulsion (ICE and Electric)

6.2.4. By Top 5 Cities

6.2.5. By Company (FY2021)

6.3.   Market Map (By Vehicle Tonnage, By Industry, By Propulsion, and By Region)

7.      Karnataka Less Than 1 Ton Small Commercial Vehicle Market Outlook

7.1.   Market Size & Forecast

7.1.1. By Value & Volume

7.2.   Market Share & Forecast

7.2.1. By Industry

7.2.2. By Propulsion

7.3.   Market Map (By Industry)

8.      Karnataka 1-2 Ton Small Commercial Vehicle Market Outlook

8.1.   Market Size & Forecast

8.1.1. By Value & Volume

8.2.   Market Share & Forecast

8.2.1. By Industry

8.2.2. By Propulsion

8.3.   Market Map (By Industry)

9.      Karnataka 2-3 Ton Small Commercial Vehicle Market Outlook

9.1.   Market Size & Forecast

9.1.1. By Value & Volume

9.2.   Market Share & Forecast

9.2.1. By Industry

9.2.2. By Propulsion

9.3.   Market Map (By Industry)

10.  Market Dynamics

10.1. Drivers

10.2. Challenges

11.  Market Trends and Developments

12.  Pricing Matrix

13.  Competitive Landscape

13.1.  Lohia Auto Industries 

13.2. Tata Motors Limited   

13.3. Ashok Leyland Limited           

13.4. Atul Auto Limited        

13.5. Piaggio Vehicles Pvt. Ltd. (PVPL)        

13.6. Mahindra & Mahindra Ltd       

13.7. Bajaj Auto Ltd.

13.8. TVS Motor Company  

13.9. Isuzu Motors  Karnataka Private Limited          

13.10.   Saera Electric Auto Pvt. Ltd

14. Strategic Recommendations

In case you don’t find what you are looking for, please get in touch with our custom research team at [email protected]